National Parks Anniversaries-Great American Spaces Commemorative Coin Act - Directs the Secretary of the Treasury to mint and issue silver coins emblematic of certain National Parks that are observing historic anniversaries of their founding.
Directs the Secretary to take action to ensure that minting and issuing coins under this Act will not result in any net cost to the United States Government.
Prohibits coin issuance unless the Secretary has received: (1) full payment for the coin; (2) security satisfactory to the Secretary to indemnify the United States for full payment; or (3) a guarantee of full payment satisfactory to the Secretary from a depository institution whose deposits are insured by either the Federal Deposit Insurance Corporation, or the National Credit Union Administration Board.
[Congressional Bills 109th Congress]
[From the U.S. Government Publishing Office]
[S. 821 Introduced in Senate (IS)]
109th CONGRESS
1st Session
S. 821
To require the Secretary of the Treasury to mint coins in commemoration
of the founding of America's National Parks, and for other purposes.
_______________________________________________________________________
IN THE SENATE OF THE UNITED STATES
April 15, 2005
Mr. Stevens (for himself, Mr. Baucus, Mr. Burns, Mr. Bennett, Mr.
Inouye, Mr. Thomas, Ms. Murkowski, Ms. Mikulski, Mr. Domenici, Mr.
Salazar, Mr. Cochran, and Mrs. Feinstein) introduced the following
bill; which was read twice and referred to the Committee on Banking,
Housing, and Urban Affairs
_______________________________________________________________________
A BILL
To require the Secretary of the Treasury to mint coins in commemoration
of the founding of America's National Parks, and for other purposes.
Be it enacted by the Senate and House of Representatives of the
United States of America in Congress assembled,
SECTION 1. SHORT TITLE.
This Act may be cited as the ``National Park Anniversaries-Great
American Spaces Commemorative Coin Act''.
SEC. 2. FINDINGS.
The Congress finds the following:
(1) The National Park Foundation is the congressionally-
chartered nonprofit partner of America's National Parks.
(2) The mission of the National Park Foundation is to
strengthen the enduring connection between the American people
and their National Parks by raising private funds, making
strategic grants, creating innovative partnerships, and
increasing public awareness of National Parks.
(3) The parks represented in this program represent some of
the most beloved and treasured National Parks in America.
(4) The National Park Service was established in 1916, to
preserve and protect great scenic parks such as Grand Canyon
National Park and Yosemite National Park, and to manage
battlefields such as Gettysburg National Military Park and
historical sites such as the Lincoln Memorial.
(5) Theodore Roosevelt said that nothing short of defending
this country in wartime ``compares in importance with the great
task of leaving this land even a better land for our
descendants than it is for us''.
(6) National Parks established under the presidency of
Theodore Roosevelt, such as Grand Canyon National Park and
Devils Tower National Monument, are the embodiment of that
ideal.
SEC. 3. COIN SPECIFICATIONS.
(a) $1 Silver Coins for National Parks Observing Historic
Anniversaries of Their Founding.--The Secretary of the Treasury (in
this Act referred to as the ``Secretary'') shall mint and issue not
more than 300,000 $1 coins for each of the National Parks specified in
section 4(c), each of which shall--
(1) weigh 26.73 grams;
(2) have a diameter of 1.500 inches; and
(3) contain 90 percent silver and 10 percent copper.
(b) Legal Tender.--The coins minted under this Act shall be legal
tender, as provided in section 5103 of title 31, United States Code.
(c) Numismatic Items.--For purposes of sections 5134 and 5136 of
title 31, United States Code, all coins minted under this Act shall be
considered to be numismatic items.
SEC. 4. DESIGN OF COINS.
(a) Design Requirements.--
(1) In general.--The design of the coins minted under this
Act shall be developed in consultation with the National Park
Foundation, and shall be emblematic of the National Park being
commemorated on each coin.
(2) Designation and inscriptions.--On each coin minted
under this Act, there shall be--
(A) a designation of the value of the coin;
(B) an inscription of the year in which the coin is
minted; and
(C) inscriptions of the words ``Liberty'', ``In God
We Trust'', ``United States of America'', and ``E
Pluribus Unum''.
(b) Design Selection.--The design for the coins minted under this
Act shall be--
(1) selected by the Secretary, after consultation with the
Commission of Fine Arts and the National Park Foundation; and
(2) reviewed by the Citizens Coinage Advisory Committee
established under section 5135 of title 31, United States Code.
(c) National Parks To Be Commemorated.--The National Parks to be
commemorated in accordance with this Act, the year of commemoration,
and the anniversary to be observed are as follows:
National Park or Park
Year of Issuance Service Anniversary
2007............................. Devils Tower National 100th
Monument.
2008............................. Grand Canyon National 100th
Park.
2010............................. Glacier National Park 100th
2011............................. Lincoln Memorial..... 100th
2014............................. Yosemite National 150th
Park.
2015............................. Rocky Mountain 100th
National Park.
2016............................. National Park Service 100th
2017............................. Denali National Park. 100th
2018............................. Acadia National Park. 100th
2019............................. Zion National Park... 100th
2020............................. Gettysburg National 125th
Military Park.
SEC. 5. ISSUANCE OF COINS.
(a) Quality of Coins.--Coins minted under this Act shall be issued
in uncirculated and proof qualities.
(b) Mint Facility.--Only 1 facility of the United States Mint may
be used to strike any particular quality of the coins minted under this
Act.
(c) Commencement of Issuance.--The Secretary may issue coins minted
under this Act beginning January 1 of the year of issuance, as
specified in section 4(c), except that the Secretary may initiate sales
of such coins, without issuance, before such date.
(d) Termination of Minting Authority.--No coins shall be minted
under this Act after December 31 of the year of issuance specified in
section 4(c).
SEC. 6. SALE OF COINS.
(a) Sale Price.--Notwithstanding any other provision of law, the
coins issued under this Act shall be sold by the Secretary at a price
equal to the face value, plus the cost of designing and issuing such
coins (including labor, materials, dies, use of machinery, overhead
expenses, and marketing).
(b) Bulk Sales.--The Secretary shall make bulk sales of the coins
issued under this Act at a reasonable discount.
(c) Prepaid Orders at a Discount.--
(1) In general.--The Secretary shall accept prepaid orders
for the coins minted under this Act before the issuance of such
coins.
(2) Discount.--Sale prices with respect to prepaid orders
under paragraph (1) shall be at a reasonable discount.
(d) Sales of Single Coins and Sets of Coins.--Coins of each design
specified under section 4(c) may be sold separately or as a set
containing other coins authorized by this Act.
SEC. 7. SURCHARGES.
(a) Surcharge Required.--All sales of coins issued under this Act
shall include a surcharge of $10 per coin.
(b) Distribution.--Subject to section 5134(f) of title 31, United
States Code, all surcharges received by the Secretary from the sale of
coins issued under this Act shall be promptly paid by the Secretary to
the National Park Foundation for use as follows:
(1) 50 percent of the surcharges received shall be used by
the National Park Foundation in support of all National Parks.
(2) 50 percent of the surcharges received shall be used by
the National Park Foundation for the benefit of the National
Parks designated in section 4(c) (in addition to any amount
allocable to any such Park from expenditures of amounts under
paragraph (1)).
(c) Audits.--The National Park Foundation shall be subject to the
audit requirements of section 5134(f)(2) of title 31, United States
Code, with regard to the amounts received by the Foundation under
subsection (b).
SEC. 8. FINANCIAL ASSURANCES.
(a) No Net Cost to the Government.--The Secretary shall take such
actions as may be necessary to ensure that minting and issuing coins
under this Act will not result in any net cost to the United States
Government.
(b) Payment for Coins.--A coin shall not be issued under this Act
unless the Secretary has received--
(1) full payment for the coin;
(2) security satisfactory to the Secretary to indemnify the
United States for full payment; or
(3) a guarantee of full payment satisfactory to the
Secretary from a depository institution, the deposits of which
are insured by the Federal Deposit Insurance Corporation or the
National Credit Union Administration Board.
<all>
Introduced in Senate
Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
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